M 20 bonds in societies abolished

By Accommodation Times Bureau
On 6th Sept 2012 Thursday, government of Maharashtra has scraped the mandatory M20 bonds for society office bearer after resuming office. The Bonds were in form of indemnity towards society affairs and there were criminal offenses imposed for non compliance. It was mandatory for all managing committee members to file M20 bond within 45 days of resuming office.
Mantralaya sources says that GR already passed and will be published next week. The decision of CM to this effect was reported by Accommodation Times earlier.

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3 thoughts on “M 20 bonds in societies abolished

  1. Pl. enlist copy of GR passed in respect  scrapping of mandatory provision of filling M 20 Bond in time. Is there any more need to file M 20 Bond by Co-op Societies of Mumbai & Thane in Maharashtra.

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